Monday June 17, 2019

Sri Lanka stocks end 0.29-pct lower, gilts flat

Sep 21, 2018 17:53 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT – Sri Lanka stocks closed 0.29 percent lower Friday amidst foreign selling in John Keells Holdings and Commercial Bank, as gilt yields closed flat, brokers and dealers said.

Colombo's benchmark All Share closed 0.29 percent lower, down 17.31 points to 5,904.90, and the S&P SL20 index of more liquid stocks fell 0.46 percent, down 14.01 points to 3,016.76.

Market turnover was 977.7 million rupees with 94 stocks declining during the day against 49 that gained.

Sampath Bank (down 6.20 rupees to 238.60 rupees), Commercial Bank (down 1.20 rupees to 114.10 rupees) and Good Hope (down 269.40 rupees to 902.60 rupees) weighed down the benchmark index.

John Keells Holdings gained 50 cents to 129.50 rupees.

Net foreign selling was 359.9 million rupees, up from 136.9 million rupees the previous day.

Foreign selling was 232 million rupees in John Keells Holdings and 120 million rupees in Commercial Bank, according to Asia Securities.

Crossings, or off-market negotiated trades, totalled 637.9 million rupees accounting for 65 percent of market turnover.

There were four crossings in Commercial Bank for 181.2 million rupees, three in John Keells Holdings for 114.1 million rupees, and two crossings each in Melstacorp for 269 million rupees and 73.6 million rupees in HNB.

Melstacorp closed unchanged at 50 rupees and HNB was unchanged at 214 rupees.

In gilts, yields ended a volatile week flat in the secondary market for government bonds, dealers said.

A five-year bond maturing in 2023 closed at a narrower range of 10.58/65 percent in two-way quotes, compared to 10.55/65 percent the previous close.

A ten-year bond maturing in 2028 saw yields narrow to 10.80/95 percent, from 10.75/95 percent a day earlier. (COLOMBO, 21 September 2018)


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